Decorah man convicted of selling goats that were loan collateral

A Decorah man could go to federal prison for five years after pleading guilty to selling goats that were used as collateral for a farm loan.

The U.S. Attorney's Office for the Northern District of Iowa says 36-year-old Andrew Hansen pleaded guilty today to one count of conversion of property pledged to a farm credit agency.

In his plea agreement, Hansen admitted to selling goats and farm equipment that had been used as collateral on Farm Services Agency loans he got to run a dairy goat farm. He says he used the money for his own purposes rather than to pay off the farm loans.

Hansen is awaiting sentencing. He faces up to five years in prison and a $250,000 fine.